NY launches contest to bring business to Buffalo

New York state is making a contest out of attracting business to Buffalo.

Gov. Andrew Cuomo on Wednesday announced the launch of 43North, named for the latitudinal line that runs through western New York.

The competition features a top prize of $1 million. It’s part of the “Buffalo billion” that Cuomo has committed to economic development in the state’s second-largest city.

Competitors are invited to pitch business ideas in any industry except retail and hospitality. Winners will receive cash, incubator space for a year and guidance from mentors in their field. They’ll have to operate their business in Buffalo for at least a year.